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Impact of Prescriptive Analytics on Key Sectors

  • September 2015
  • -
  • Frost & Sullivan
  • -
  • 44 pages

Analytical Engines Empowering Key Business Decisions

Strategic insights are gradually becoming very critical in businesses for the extraction of values from various data sources such as mobile devices, Web, automated sensory technologies, RFID, social networking websites, and so on. Prescriptive analytics can help in achieving these requirements for organizations. The prescriptive analytics-based decision support system utilizes large data sets for deriving efficient business decisions. This research service offers insights primarily on key sectors that will be affected by prescriptive analytics implementation.

Research Outline

This research service offers insights primarily on key sectors that will be affected by prescriptive analytics implementation. The key topics covered in this research service are as follows:

- Overview of the topic
- Highlights the key benefits of Prescriptive Analytics
- Key difference between Descriptive, Predictive and Prescriptive Analytics
- Need for Prescriptive Analytics in key sectors
- Key business impacts from implementation
- Use Cases of Prescriptive Analytics in different sectors
- Key convergence scenario enabling development of future applications

Key Findings

In the automotive and transportation sector, the impact of prescriptive analytics has created a huge demand for smart vehicles which can bring in improved user experience through decision making intelligence. These systems are expected to support maintenance of the car and act as a communication bridge between OEMs, service providers, and customers. These systems are expected to be intelligent enough to predict the life time and repair time frame for individual parts of automobiles with the help of cognitive systems. Prescriptive analytics systems are expected to create perfect assembly lines run by automated robots in the manufacturing and automation industry.

These robots are equipped with human-like decision making capabilities, resulting in reduced manual labor and reduced Key cost Findings The use of prescriptive analytics in the aerospace and defense industry is expected to help in the creation of predictive maintenance systems which can scan through millions of parts and predict the wear and tear of machinery. This prediction and support capabilities are expected to help in easy implementation of usage-based insurance.

The use of prescriptive analytics in the healthcare industry is expected to enable complete analysis and history of gene mapping. The use of sensors and continuous patient monitoring generates millions of data on patients’ health and physiology, which when subjected to analytics is expected to reveal key catalysts on genetic structures. These insights are expected to be used by the system to identify appropriate medicines and also calculate accurate costs involved in treatment.

Table Of Contents

Impact of Prescriptive Analytics on Key Sectors
1. EXECUTIVE SUMMARY

Executive Summary
Research Outline
Key Findings
Research Methodology

2. OVERVIEW OF THE TOPIC

Overview of the Topic
Prescriptive Analytics-A Brief Snapshot
Descriptive Vs Predictive Vs Prescriptive Analytics
Why is Prescriptive Analytics Important Today in Different Sectors ?

3. IMPACT OF PRESCRIPTIVE ANALYTICS ON AUTOMOTIVE AND TRANSPORTATION SECTOR

Impact of Prescriptive Analytics on Automotive and Transportation Sector
Prescriptive Analytics Shows Increased Implementation of Predictive and Decision Support Systems in Automotive Sector
How Do Prescriptive Decision Support Systems Help the Automotive Sector?
Prescriptive Analytics Research Expected to Help Implement Usage-based Insurance in Automotive Sector

4. IMPACT OF PRESCRIPTIVE ANALYTICS ON AEROSPACE AND DEFENSE SECTOR

Impact of Prescriptive Analytics on Aerospace and Defense Sector
Prescriptive Analytics Trends Show Increased Implementation of Maintenance Systems in Aerospace and Defense Sector
How Do Prescriptive Maintenance Support Systems Help in Aerospace and Defense Sector?
Prescriptive Analytics Research Expected to Help Implement Strategy Decision Support Systems in Defense Sector

5. IMPACT OF PRESCRIPTIVE ANALYTICS ON AUTOMATION INDUSTRY

Impact of Prescriptive Analytics on Automation Industry
Prescriptive analytics trend shows increased implementation of intelligent assembly line in automation sector
Prescriptive Analytics Improves Thinking Capabilities of Automated Systems
Prescriptive Computing Research Expected to Help in Assembly Line Robotics in the Automation Sector

6. IMPACT OF PRESCRIPTIVE ANALYTICS ON HEALTHCARE INDUSTRY

Impact of Prescriptive Analytics on Healthcare Industry
Prescriptive Analytics Trend Shows Improved Quality of Service in Healthcare Sector
Prescriptive Analytics Enables Replacement of Conventional Insurance-based Healthcare Systems
Prescriptive Analytics Research Is Expected to Help in Decoding Genetic Basis of Diseases in the Healthcare Sector

7. ANALYST INSIGHTS-CONVERGENCE SCENARIOS AND FUTURISTIC APPLICATIONS

Analyst Insights-Convergence Scenarios and Futuristic Applications
Augmented Reality Provides Visualization Capability for Prescriptive Analytics Interface
Convergence of Prescriptive Analytics with Cloud Computing Helps Reduce Platform Dependency
Convergence of Prescriptive Analytics with IoT Enables Smart Infrastructure
Convergence of Affective Computing with Prescriptive Analytics Enhances Crowd Management
Key Insights

8. KEY CONTACTS

Key Contacts
Legal Disclaimer

9. THE FROST and SULLIVAN STORY

The Frost and Sullivan Story
Value Proposition: Future of Your Company and Career
Global Perspective
Industry Convergence
360º Research Perspective
Implementation Excellence
Our Blue Ocean Strategy

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